HA Sustainable Infrastructure Capital, Inc. Annual report pursuant to Section 13 and 15(d)

Equity (Tables)

12 Months Ended

Dec. 31, 2014

Our board of directors declared the following dividends in 2013 and 2014:

Announced Date

Record Date

Pay Date

Amount per share

8/8/13

8/20/13

8/29/13

0.06

11/7/13

11/18/13

11/22/13

0.14

12/17/13

12/30/13

1/10/14

0.22

3/13/14

3/27/14

4/9/14

0.22

6/17/14

6/27/14

7/10/14

0.22

9/16/14

9/26/14

10/9/14

0.22

12/8/14

12/19/14

1/9/15

0.26

We completed the following public offerings of common stock¹:


Closing Date	Shares Issued		Price Per Share		Net Proceeds ²
	(Amounts in millions, except per share amounts)
4/23/13		14.2	$	12.50	$	160.0
4/29/14		5.8	$	13.00	$	70.4
10/31/14		4.6	$	13.60	$	58.9

1	Includes shares issued in connection with the exercise of the underwriters’ option to purchase additional shares.

2	Net proceeds from the offerings is shown after deducting underwriting discounts, commissions, other offering costs and, in the case of our initial public offering, formation transaction costs.

A summary of the unvested shares of restricted common stock that have been issued from April 23, 2013 to December 31, 2014 is as follows:


	Restricted Shares of Common Stock			Weighted Average Share Price		Value (in millions)
Beginning Balance—April 23, 2013		606,415		$	12.50	$	7.6
Granted		10,800			12.37		0.1
Vested		—			—		—
Forfeited		(18,400	)		12.50		(0.2	)

Balance—December 31, 2013		598,815			12.50		7.5
Granted		529,100			14.18		7.5
Vested		(149,709	)		12.50		(1.9	)
Forfeited		(13,386	)		12.99		(0.2	)

Ending Balance—December 31, 2014		964,820			13.41	$	12.9